Core Points - China Railway Construction Corporation (CRCC) announced the issuance of its fourth phase of technology innovation perpetual corporate bonds aimed at professional investors, set to start interest payments on October 28, 2025 [1] - The first bond type, referred to as "Tie Jian YK16," has a coupon rate of 2.35%, with an interest payment of 23.50 yuan (including tax) per 1,000 yuan face value [1] - The second bond type, referred to as "Tie Jian YK17," has a coupon rate of 2.50%, with an interest payment of 25.00 yuan (including tax) per 1,000 yuan face value [1]